What is PF? Defination, Benefits and its full form

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What is PF

Hello friends, today I am going to tell what is PF? In this post. And how saving our money by pf. And what is the benefit of its. And its full form

What is PF provident fund

Employers are most need of knowing what is PF. But it is important for everyone to know what is Pf. People who are doing private or government jobs, they must have complete information about PF.

Full form of PF is provident fund. It is a government scheme. PF is also called EPF. That means the Employer provident fund. Provident Fund is very beneficial for the employer. Because, they are saved through EPF, which is given after retirement or after leaving the job. The biggest benefit of PF is that no tax is levied on the savings made by your Provident Fund.

How saving by EPF

If you work in any company, and it provides the facility of provident fund, then you need to know how much percentage and how saving is from your salary. And convert to EPF.

So friends, 12% of the salary that the company gives to employer is deposited in the EPF account. Which is deposited in 3.67% epf and 8.33% eps. Which gets you after retirement.

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How to check provident fund balance

If you are also an employer and are saving balance by EPF, then you must have thought about checking pf balance. So, I tell you some ways through which you can also check your EPF balance very easily.

  • It is important to have uan number active for checking your epf balance. After that visit https://passbook.epfindia.gov.in/MemberPassBook/Login.jsp and enter uan number and password, you can download your statement.
  • You can check your provident fund balance by a message on 7738299899.
  • You can check pf balance by miscalling 011-22901406.

Benefits of Provident Fund

Friends, if you are also saving through EPF, it is very beneficial.

There is no government tax of any kind on saving of Pf. You can save money without paying tax. And if needed, you can withdraw your savings.

You can withdraw money easily by EPF. 90% of the money you need can be withdrawn.

After creating a Provident fund account you get a uan number. With the help of which, if you ever change the company, then you can transfer the money of epf.

Summury

So, friends, you must have understood what is pf and epf? But friends many people do not, what is the provident fund and its benefits, so share this information with your friends too.

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